NEW DELHI, India — India, which is already facing steep 50 percent tariffs from the United States, could be affected by a new U.S. trade measure after President Donald Trump announced 25 percent tariffs on any country conducting business with Iran.
India is among Iran’s top five trading partners. According to official data, India exported goods worth $1.24 billion to Iran and imported goods worth $440 million in the 2024–25 financial year, taking total bilateral trade to $1.68 billion.
“India and Iran are important trade partners. India has been among Iran’s five largest trade partners in recent years,” according to information published by the Indian Embassy in Tehran. Major Indian exports to Iran include rice, tea, sugar, pharmaceuticals, manmade staple fibers, electrical machinery, and artificial jewelry. Key imports from Iran include dry fruits, inorganic and organic chemicals, and glassware.
India and Iran signed a memorandum of understanding in 2015 to jointly develop the Shahid Beheshti Port at Chabahar. India has continued to cooperate closely with Iran to realize the vision of Chabahar as a major regional and international hub for humanitarian and commercial goods, according to the Indian Embassy.
The United States recently extended a six-month sanctions waiver allowing India to continue operations at the Chabahar port, effective from October 29. The extension was viewed as a diplomatic win for New Delhi amid broader U.S. sanctions targeting Iran and Russia.
Under the waiver, India can continue developing and operating the port until at least April next year without facing U.S. penalties. The port is strategically important for India, providing access to Afghanistan and Central Asia while bypassing Pakistan for trade and connectivity.
Industry experts said that while China remains Iran’s largest trading partner, countries such as India, the United Arab Emirates, and Turkey could also face challenges under the new U.S. tariff regime. (Source: IANS)
